Chuck Grassley: “There is the alternative minimum tax hold harmless, so that 22 million more Americans do not get hit by the alternative…”

“There is the alternative minimum tax hold harmless, so that 22 million more Americans do not get hit by the alternative minimum income tax. Middle-income people who were never intended to pay it will if we don't get this bill out of conference with these offsets in it. Everybody on the other side of the aisle doesn't want an alternative minimum tax to hit middle-income people, so they are going to take those revenue raisers, those tax loophole closers that we are using for this to use for something such as Amtrak, now before us, as an example. There are other provisions. The reconciliation number covers these items. Yet this amendment would tear away the revenue offsets needed to pay for these items. You can't say you are for these items and not provide room for the tax cut that is in the reconciliation bill in conference. You can't use the offsets for something else without providing for those items. You can't have it both ways, in other words. What is the loophole closer you would use, I ask them. There are none of them identified. Will it be taken from the $30 billion reconciliation already accounted for in that bill or is there a new issue we haven't seen? If you have a secret revenue loophole closer out there, I want to know about it. A loophole closer actually has to raise money. Members need to know that some of the leftover items from last year may not raise any money in the current year when they want to spend it.…”